At the same time he probably won’t be getting a long-term extension to stick with the team, either—but that doesn’t mean this season will be Smith’s last in Atlanta. Smith is entering the final year of his contract, which will pay him $13.2 million in 2102-13. He is eligible for a three-year extension, which he can sign between now and June 30 of next year.

Josh Smith has more than enough incentive to wait on signing a contract extension with the Atlanta Hawks. (AP Photo)

Ferry, though, doesn’t see that happening.

“I’ve been clear that I value Josh as a player,” Ferry said, according to The Atlanta Journal-Constitution. “He has worked hard this summer and I believe he is going to have great season. I’ve been in contact with his representatives. Josh and his representatives have been clear that he is excited about the direction of the team and wants to be part of the future in Atlanta. That being said, I don’t expect the contract situation to be resolved until next summer.”

That largely is because the math works much better for Smith if he waits. He is only 26 years old, and with several teams planning on having cap space next summer, he will be a valuable commodity on the market. If he were to re-sign with the Hawks now, he could only do so for three additional years, at about $46 million. If he signed with the Hawks as a free agent on July 1, he could be paid $100 million over five years. If he were to leave the Hawks to sign with another team after July 1, the contract would be four years and about $70 million.

Last year, Nets guard Deron Williams was in much the same situation, and though he wound up choosing between the bigger money with the Nets or taking less money to join the Mavericks, he said that signing the smaller, three-year extension was never an option. He, of course, chose to remain with the Nets.